Kiomi Osorio and Augusto Hostia

Cuatrecasas advises BTG Pactual on financing Ricardo Palma project

Cuatrecasas, through its team in Lima, has advised BTG Pactual (Cayman Branch) on a medium-term loan financing in favour of Ricardo Palma Rentas, a company controlled by Fondo de Inversión Inmobiliario – CCLA Desarrollo y Rentas Urbanas.

The funds will be used by the company to develop the “Ricardo Palma” real estate project, located in Lima, which consists of 242 residential housing units, leased through various contracts, and secured by a collateral trust and a cash flow trust.

“This is an interesting transaction, not only because of the project finance structure used to finance the project, but also because it is a sign that the movement in the construction and development of real estate projects will help the reactivation and economic revitalisation of the country,” said partner Kiomi Osorio.

This financing agreement included a security package covering all assets and contracts related to the project in a collateral asset trust and a cash flow trust.

This transaction also marks the second loan granted by BTG Pactual to a company controlled by CCLA Group, following the previous financing granted through a medium-term loan to Inversiones Zoberph, also advised by Cuatrecasas.

Cuatrecasas partner Kiomi Osorio (pictured left) and associate Augusto Hostia (pictured right).

Cuatrecasas advises BTG Pactual on financing Ricardo Palma project

L Giselle Estrada

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